With depleting conventional sources of energy, it has
become important for organizations in the manufacturing industry to use energy-saving
products. Industrial lubricants are found to be energy-saving as they induce an
ease of operation for industrial machinery and reduce lapses that often
consume a substantial amount of energy. The growing manufacturing industry is
enhancing the industrial lubricants market demand, and the market is poised to
attain the global market size of $31.32 billion by the end of 2023, according
to a recently published market intelligence report by Industry. Furthermore,
the industrial lubricants market is projected to increase at a CAGR of 4.27%
during the forecast period 2018-2023.
The industrial lubricants market research report also
provides a detailed peek into the trends, opportunities, and challenges in the
market along with the business strategies of the key players. Furthermore,
there are facts, figures, and statistics with an explanation of the dynamics in
the industrial lubricants market. The report is titled “Industrial Lubricants
Market: By type (Gear, compressor, hydraulic, turbine, metal working, bearing,
coolants, penetrating oils); By compound (fluids, greases, oils); By
applications (air compressors, bearings, food machinery, gas engines, gears,
hydraulics, machining, turbines, power generation); By end-user industry
(automotive, aerospace, military, marine, chemicals, food processing, textiles,
railroads, construction, agriculture, timber and logging); By Geography -
Forecast (2018-2023).”
Industrial Lubricants Market: Geographical Analysis &
Leading Segments
APAC is the most lucrative region for the vendors in the
industrial lubricants market, and the market is expected to grow at a CAGR 3.01%
during the forecast period 2018-2023. China and India hold the maximum global
industrial lubricants market share owing to rapid industrialization in the
countries. Manufacturing industries are major consumers of industrial
lubricants, and due to the expansion of pharmaceutical and oil & gas industries
in India, the market is expected to grow during the forecast period.
The industrial lubricants market research report also analyzes
all end-user industries and revenue share of industrial lubricants market in
all the segments. According to the segmental study by the analyst, the
automotive industry has been the most lucrative end-user industry. This is
attributable to the growing number of vehicle produced each year, which is
creating a demand for industrial lubricants.
Industrial Lubricants Market: Trends and Growth Drivers
· The demand influx from the Energy Sector –
The energy sector is a profitable industrial lubricants
marketplace, as power plant equipment require right lubrication. Industrial
lubricants speed up the operations and help the power plants to enhance their
production and profitability. The growing industrialization is augmenting the
power consumption which is boosting the industrial lubricants market.
· The Mining Industry flourishing the Industrial
Lubricants Market –
The growth prospects for the vendors of the industrial
lubricants market in the mining industry can be fathomed by the growth of
the mining
equipment market which was
valued between $100 billion and $104 billion in 2018, and the demand is
estimated to escalate at a steady CAGR of 5% through to 2025, according the
mining equipment report by IndustryARC. Mining lubricants play a vital role in
maintaining the operability of the mining equipment and enable higher machine
reliability. The growing mining industry and the mining equipment market will
offer opportunities to the vendors in the industrial lubricants market.
· Industrial Lubricants Market reaping revenues
from the Textile Industry –
The textile industry is makings strides in the developing
countries such as China and India. There is a lot of machineries used in
textile production which need industrial lubricants. The growth of the textile
industry is augmenting the sales in the industrial lubricants market.
Industrial Lubricants Market: Competitive Landscape
Some of the key companies identified in the industrial
lubricants market intelligence report that are striving to capitalize on the
customer-base are Exxon Mobil Corp., BP PLC, TOTAL SA, LUKOIL PJSC,
Valvoline Inc., Royal Dutch Shell, PETRONAS Gas Berhad, Indian Oil Corp., and
Chevron Corp.
Talk to one of our sales representative about the full
report by providing your details in the link below:
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Related Reports:
a) Lubricants
Market
https://www.industryarc.com/Report/11709/lubricants-market-analysis.html
b) Indian
Industrial Lubricants Market
The industrial lubricants market report is prepared with the main agenda to cover the following
20 points:
1. Market Size by Product Categories &
Application 11.
Demand Analysis (Revenue
& Volume)
2. Market trends & Relevant Market
Data
12. Country level
Analysis
3. Manufacturer
Landscape
13. Competitor
Analysis
4. Distributor Landscape
14. Market
Shares Analysis
5. Pricing Analysis
15. Value
Chain Analysis
6. Top 10 End user Analysis
16. Supply
Chain Analysis
7. Product Benchmarking
17. Strategic
Analysis
8. Product Developments
18. Current
& Future Market Landscape
Analysis
9. Mergers & Acquisitions Analysis
19.
Opportunity Analysis
10. Patent Analysis
20.
Revenue and Volume Analysis
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